Member Info for somm

They obviously didn't read my last post 😉

Getting large sells out of the way now like these will also help dampen any sell self off effect on the share price when news is out confirming the 803 Deep Well is a gusher 💦💦💦

Now where's that Akkaduk license Clive.....

A big day tomorrow?

If you ask me they will drill deeper than 3,980m to circ. 4,020m and stop drilling, tomorrow.

Saturday they will begin pulling the drill pipe out, by Monday they will begin lowering the steel casing, Tuesday they will begin pouring the cement, by Thursday the cement will have hardened, Friday they will lower the explosives and start fracking the identified live oil bearing intervals (3 interval?), next Saturday they will start flow testing the well for a few days or so, RNS out W/C 1 June confirming flow rates at the earliest. imo.

No blockages please!

Rosie, tell Polly to make a very big pot to see you through, not the type you two are smoking, of tea.

Rosie, put the kettle on....

To add,

''On completion of work at Deep Well 803 at the BNG Contract Area the drilling pipes used will move to Deep Well P2 to drill a 400 meter side track from a depth of 3,100 meters targeting oil in the Permian dolomite. We then plan to re-perforate Deep Well P1''

If they do drill down to the 4,200m secondary target (TD 4,500m) it will be 2-3 months before they sidetrack the Block 8 P2 Deep Well - same applies to the WS second well.

Near term: 803 results and A6 sidetrack.

Why would anyone sell 500k shares when CASP are currently drilling through the 60m zone?

Beats me.......

They'll probably start perforating the interval(s) this weekend.

Gusher or blusher?

A quick observation re the 803 Deep Well.

CASP said the original primary target was at 3,905m and they were currently at 3,906m, was there an interval at this depth? They then say they're going to drill deeper into 'new' much larger intervals between 3,920m to 3,980m.

Q: will they continue drilling down to the secondary target at 4,200m too?

Could be a whopper with two flowing 60m gross oil bearing zones with the 4,200m secondary target to boot.

Any other Company would be flying now with over 120m of gross oil bearing zones and 10m net already flowing 500 bopd.

I've got a good feeling about these larger intervals, the 801 Deep Well had 4 sizeable intervals, if these intervals flow it will bode well for the new 701 Deep Well.

I get the feeling that's across the board, excuse the pun ;- ).

BM,

Will keep an eye out for you million share buy ;-)

Can't wait!

It could be the biggest news this year, news we've all been hoping for.

They must be optimistic with the A6 Deep Wells 400m planned sidetrack too, which could be a gusher on par with the A5 Deep Well which is a stones throw away/ timing could coinside with Block 8 P1 Deep Wells 600m sidetrack flow test?

Re the 803 Deep Well, they've indicated larger interval(s), which must be showing on the 3D seismic to say that - must be thicker than that shallower 10m then. ;-)

The larger interval(s) in the 60m gross 'primary target' depth between 3,920m and 3,980m could be serious gushers being on par with Aurshagyl.

They missed the shallower 60m gross oil bearing zone that flowed 500 bopd from a 10m? net interval.

Let's hope the perf holes don't get blocked and we're talking X,000's bopd with the 500 bopd thrown in.

1-2 June for news or sooner if Carver can't hold out. :-)

Onejohn,

You talk as if your " nice retirement fund" was nailed on?

Investing in AIM oilers is extremely risky and very few actally come good, I make it circ. 1 in every 10 years an oiler comes around that can be life changing if you get in at the bottom.

Don't forget you had your chance to sell out on the back of the A5 Deep Well flowing (share price went up to 24p+) and in the past circ. 4 years the share price went from 1p to 8p so you could have made a substantial amount.

You had your chance to add at 1p and get out at 8p, but you were greedy and here you are moaning.

CASP can't know in advance a drilling pipe will get stuck or the perf holes will get blocked or the oil price would crash to under $30 pb or COVID 19, financial crash, international pipeline sanctions, years EM license wranglings the list goes on, all of this is part and parcel of investing in a risky oiler.

Now top up at 2p while you can.

.....make that circ. 500m shares soon to be added (plus another 300m within the next 5 years to boot).

Speaking of which, Aibek will get $4m per ton of gold the EM sign off within the next 5 years up to $20m worth - another 300m shares.

Who wants to bet the kitchen sink 'won't' be thrown at the latest acquisition, with another 300 million shares on the line?

Just imagine if he (the COO in charge of operations) does get the other 300m shares by the time the two 25 year BNG licenses are approved - in time for a full sale of BNG/ CASP having another 700m under his belt from now, hmm food for thought.

As I've highlighted before there is a potential circ. 30% share dilution event around the corner (circ. 400m shares being added to the shares in issue pot) and a $25m court case, which is the reason imo why the share price is currently where it is.

Even so I find it incredible with B8 flowing/ WS flowing/ YD flowing/ Airshagyl flowing-26mbbls booked, an additional 4-5 new well program signed off by the EM, CE worth the MC, new reserves to book, new mining acquisitions, CP/ Directors having major holdings and currently multiple wells flow testing, how many irons in the fire?

It's got to be the dilution/ court case holding the sp back atm. imo.

Lam,

It's test production and they have put out a flow rate figure of 300 bopd, which as indicated hasn't changed since the previous Update.

Name any other Company that has informed their shareholders of how much they're getting per barrel for test oil? as far as I understand test oil isn't taxed the same as full on production to boot.

Anything else or is that it?

Yep, it's frustrating how timelines/ drilling wells don't meet our expections.

My main gripes are why not buy the specialist equipment needed to pull out the 802 Deep Wells 3,400m of stuck pipe (said it for years), if they had of instead of loaning dosh out they would have been able to flow the well properly by now and sidetrack the B8 wells sooner.

And stop telling shareholders of unrealistic TD timelines re 2 months to drill WS ( had to laugh) / 4 months to drill the A7 Deep Well (4 months to drill to 2,150m) etc. and not drilling wells when they say they will - Shin/ Aibek are to blame for not having a better understanding. imo.

As I've been saying since last year it would be unlikey to see the CE chartered out with Iranian ships/ Russian tankers and ports increasingly being bombed in the Caspian Sea by the US/ Ukraine. CASP are not going to say this is why the 3 potential charters touted last December, they were probably in talks throughout 2025, but the risk will have increased significantly since talks started, hence no charters agreed on...yet.

The current WS well that flowed 300 bopd is still being flow tested and as indicated in the Update the flow rate has not changed, if it doesn't change they have said they will drill the well deeper, if the flow rate does changed then they will tell us, if it doesn't then they will go ahead and drill a second well.

The Block 8 P1 Deep Well is waiting on the drilling pipe from the 803 Deep Well, the piping will then be used on the P2 Deep Well.

The A6 Deep Well sidetrack and new YD well spuds Q2/ Q3.

There are no rigs available to drill the A5/ A7 Deep Wells due to current wells being tested and the new 3 deep YD well commitments that have to be drilled by 2027 end.

A G70 rig is being sourced - hired.

So what exactly is it CASP have not explained, that you're referring to?

The Akkaduk license is with the EM.

The mining aquisitions are waiting on further approvals from the EM.

Looking forward to a factual and indepth reply that challanges what they have not told us to what they have.

For the next few weeks it's all about the 803 Deep Well, pretty much everything else is WIP along with any revenue being generated from the WS test oil.

Decent buys coming in now with a 4% spread, no doubt peeps are buying in on the back of the 803 Deep Well.

If a gusher from multiple intervals anyone wanting to buy a WI in YD - BNG will have to significantly up the $72.5 million ante.

WRT the 803 Deep Well.

Casing will have been done and drilling another circ. 80m shouldn't take more than 4 -6 days depending on how intervals the perf, meaning they will likey perf the well this coming weekend then start flow testing the well for a few days - the flow test result will probably include oil from the shallower 60m gross interval that flowed 500 bopd from a 10m net interval, question for me is how thick will these "much larger" intervals be?

Initially it wasn't nailed on if they would continue drilling to the primary 3,905 metre interval target after unexpectedly coming across the shallower 60m gross oil interval that flowed 500 bopd from the 10 metre net interval, and they evidently did indeed continued drilling down to the primary target.

Will they continue drilling down to the secondary target at 4,200m too regardless if this new 60m zone also flows?

Next Update 1 June? may give us an indication, what's another 300 metres?

Airshagyl

At Deep Well A6, which has been drilled to a depth of 4,528 meters, the plan in due course is to drill a 600 meter side track from a depth of 3,800 meters targeting Permian fractured dolomite and anhydrite.

''IN DUE COURSE'' HOW LONG IS A PIECE OF STRING - JUST GET THE F...K ON WITH IT IT WOULD ONLY TAKE A MONTH TO DO, BY MY RECKONING THEY HAVE A SPARE RIG.

 Block 8

On completion of work at Deep Well 803 at the BNG Contract Area the drilling pipes used will move to Deep Well P2 to drill a 400 meter side track from a depth of 3,100 meters targeting oil in the Permian dolomite. We then plan to re-perforate Deep Well P1.

THE 802 DEEP WELL HAS 3.400 METRES OF STUCK PIPE DOWN IT - WHY NOT BUY THE SPECIALIST EQUIPMENT AND PULL IT OUT (I'VE BEEN SAYING THIS FOR YEARS) - THE P1/ P2 DEEP WELL SIDETRACKS AGAIN ARE BEING KICKED DOWN THE ROAD (NOW DUE TO NEEDING DRILLING PIPES FFS)- AT LEAST THE 803 DEEP WELLS DRILLING PIPE SHOULD BE AVAILABLE NEXT MONTH - WE COULD SEE THE P2 DEEP WELLS 400 METRES SIDETRACK COMPLETED IN JULY? P1 SEPTEMBER?

 West Shalva

In March 2026 we reported oil flows in the Jurassic at an interval of 2,250 meters. Since then we have been working to maximise oil production from this interval including re-perforations, heat treatment and the installation of mechanical pumps. Unless the flow rates improve from the 300 bopd rate previously reported our plan is now to deepen the well to its original planned depth of 3,200 meters targeting oil in the Triassic limestone at a depth of approximately 3,000 meters. This is instead of drilling the second well to that depth as previously intended as the casing partly already in place at the first well was designed for a deeper drill. The second well at the West Shalva Contract Area is now planned with a Total Depth of 2,500 meters targeting Jurassic sandstone with spudding expected at the end of Q2 2026.

WHAT HAVE I BEEN SAYING FOR MONTHS RE WHY NOT JUST DEEPEN THE FIRST WELL - SO WE'LL HAVE TO WAIT TO SEE IF THE 300 BOPD INCREASES OR NOT  - ANOTHER ONE OR TWO MONTHS WAIT?

SO WE WAIT (AGAIN) FOR THE 803 DEEP WELL TO HOPEFULLY BLOW THE SOCKS OFF THE SHARE PRICE MONTH END - SADLY BEING THE ONLY WELL NOW WITH VERY NEAR TERM PRODUCTION ON THE CARDS.

IF THEY'VE BEEN ABLE TO FLOW 500 BOPD FROM THE SHALLOWER NET 10 METRE INTERVAL AND DRILL THROUGH THE 60 METRE GROS INTERVAL - HAVE THEY BEEN ABLE TO ATTAIN MORE NET PAY (500+ BOD) - WHAT WILL THE EXPECTED HIGHER VOLUMES OF OIL FLOW RATE BE FROM THE NEXT 60 METRE INTERVALS?

GOT TO BE IN IT TO WIN IN.

Yelemes Deep

Important to the future of the Yelemes Deep structure is the outcome of the work underway at Deep Well 803. This well had an original planned total depth of 4,500 meters with a primary target at a depth of 3,905 meters and a secondary target at a depth of 4,200 meters. It was drilled to a depth of 3,420 meters before work paused towards the end of 2024 for the renewal of the licence. At that time the well had produced briefly at rates of up to 500 bopd from a 10 meter perforated interval within a wider 60 meter interval showing indications of oil between depths of 3,360 and 3,420 meters. 

The well has now been deepened to a depth of 3,906 meters on the way to targeting potentially much larger oil bearing intervals at depths between 3,920 and 3,980 meters. The new potential intervals are expected to be reached later this month following which the plan is to perforate and if appropriate commence flow testing.

THOUGH WE WERE EXPECTING THE 803 DEEP WELL TO BE FLOWING BY NOW 'WITH A NEW PUMP FITTED' THIS DEEPENING OF THE WELL IS ACTUALLY VERY GOOD NEWS - NO DOUBT IF THESE DEEPER INTERVALS BETWEEN 3,920 AND 3,980 METRES FLOW THIS MONTH THE DEEPER OIL WILL BE INTER-MINGLED WITH THE SHALLOWER 500 BOPD OIL. NOTE: THESE DEEPER INTERVALS ARE BETWEEN ANOTHER 60 METRES! THIS WELL COULD BE A GAME CHANGER.

 Subject to a successful outcome with Deep Well 803 we plan next to drill a new deep well with the designation of Deep Well 701 near the site of Deep Well 801, which was drilled to a depth of 5,050 meters but later abandoned. This is one of the new wells for which regulatory consent referred to above has been granted. A G70 rig is being sourced to drill the well, which will have a planned total depth of 5,000 meters targeting Permian dolomite/anhydrite, and carboniferous limestone. The well is expected to be spudded in Q3 2026 and reach its planned total depth by the end of Q4 2026.

SO WE NOW HAVE A NAME FOR THIS NEW WELL (DEEP WELL 701). THE SPUDS GOALPOST HAS BEEN MOVED TO Q3 FROM Q2. WILL IT BE THE SAME G70 RIG THEY HAVE USED BEFORE ('A G70 RIG IS BEING SOURCED') - I REMEMBER FEEDBACK FROM THE AGM SAYING THERE WAS A PROBLEM WITH INCLUDING SPARE PARTS IN THE G70 RIGS HIRE CONTRACT, ARE THEY SOURCING ANOTHER G70 RIG FROM ELSEWHERE? 

CONTINUED..............

RNS 18 May 2025

BNG 

Under the terms of the BNG appraisal licences issued in December 2025 at Yelemes Deep we have an obligation to complete three deep wells by the end of 2027 to be eligible to upgrade to a full production licence, while at the Airshagyl structure the requirement to complete two new wells by the end of 2028 can be satisfied after the issue of a full production licence. Our priority therefore in recent months has been at the Yelemes Deep structure.

 I ASSUME THE 3 DEEP WELLS THAT HAVE TO BE COMPLETED BY THE END OF 2027 INCLUDE THE DEEPENED 803 DEEP WELL (PLUS TWO NEW DEEP WELLS).

AIRSHAGYL - GET THE FULL PRODUCTION LICENSE BEFORE DRILLING THE 2 NEW DEEP WELLS - WHEN WILL THAT BE ISSUED?

Regulatory approval to drill new wells.

We are therefore pleased to report that the Kazakh authorities have granted permission for four new wells on the BNG Contract Area in addition to the wells already drilled or started. 

These are two new deep wells at the Yelemes Deep structure targeting Permian limestone, a new shallower well at the Yelemes Deep structure targeting Triassic sandstone and a new shallow well on a potential new shallow structure LK6 targeting Cretaceous Point Bar Sandstone.

THERE'S NO TIMELINES ON THE 2 SHALLOW WELLS - THE NEW 2 YD WELLS TIMELINES ARE AS ABOVE.

 

At the Yelemes Deep structure the deep wells will be drilled to depths of approximately 5,000 meters, and the shallower well to a depth of approximately 3,500 meters. At the potential new shallow structure, the well will be drilled to a depth of approximately 2,500 meters. The work on all these wells will be carried out by the Group's in house drilling company CTS and for the most part using rigs owned by the Group.

THE NEW YD SHALLOW WELL BEING DRILLED TO 3,500 METRES LOOKS TO BE TARGETING THE 500 BOPD INTERVAL BETWEEN 3,360 AND 3,420 METRES.

THE NEW SHALLOW WELL TO BE DRILLED ON THE NEW LK6 STRUCTURE I DARE SAY IS UNLIKELY TO BE DRILLED THIS YEAR DUE TO RIG AVAILABILITY - HOWEVER THEY MAY USE ANOTHER DRILL COMPANIES RIG (''most part using rigs owned by the Group'') SO BOTH NEW SHALLOW WELLS COULD BE DRILLED THIS YEAR USING ANOTHER DRILL COMPANY'S RIGS?

While the ultimate prize at BNG is to bring the deep structures into commercial production, shareholders are reminded that the shallow MJF and South Yelemes structures produced more than 4.5 million barrels between 2019 and 2025 before being sold for a headline cash consideration of $88 million.

TO ME - THIS IS A MASSIVE HINT THAT THEY PLAN ON SELLING SOME/ ALL OF THEIR BNG WI - WHY REMIND US OF THE SHALLOW SALE?  IF THE 2 BNG LICENSES ARE SOLD FOR PEANUTS LIKE THE SHALLOWS I'LL BE SO PI SSED OFF - SO AM EXPECTING A PARTIAL SALE THIS YEAR FOR MUCH HIGHER THAN THE £72.5M OFFERED FOR 50% OF BNG.

CONTINUED.............